New NAM Report Shows Initiative Spurred Investment and Created Jobs Across the Manufacturing Supply Chain

President Obama’s Energy Savings and Performance-Based Contracting Investment Initiative to create $2 billion in energy savings is a success and should be expanded to five years and $5 billion, according to a report released today.

The report, which the National Association of Manufacturers (NAM) drafted using data from companies involved in the initiative, found that more than $1.3 billion worth of projects will have been awarded by the end of 2013 with another $1 billion worth of projects in various stages of the development pipeline and expectations of an additional $200 million being awarded in early 2014.

“Performance-based contracts have been a win-win-win for manufacturers, the federal government and the American public,” said NAM Vice President of Energy and Resources Policy Ross Eisenberg. “The government has saved money and energy by upgrading its buildings; jobs have been created across the supply chain to manufacture and install these products and technologies; and by leveraging the power of the private sector, there have been no upfront costs to taxpayers. Manufacturers urge the President to capitalize on this success by issuing an aggressive new goal of $5 billion in performance-based contracts over the next five years.”